M&T Bank Corp Boosts Stock Holdings in Canadian Imperial Bank of Commerce $CM

M&T Bank Corp grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 570.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 55,345 shares of the bank’s stock after buying an additional 47,090 shares during the quarter. M&T Bank Corp’s holdings in Canadian Imperial Bank of Commerce were worth $5,015,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CM. CIBC Bancorp USA Inc. acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $11,217,000. JARISLOWSKY FRASER Ltd lifted its holdings in Canadian Imperial Bank of Commerce by 21.3% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 55,674 shares of the bank’s stock valued at $4,450,000 after purchasing an additional 9,771 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Canadian Imperial Bank of Commerce by 1.1% during the 3rd quarter. Mackenzie Financial Corp now owns 6,380,638 shares of the bank’s stock worth $509,763,000 after purchasing an additional 67,738 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 12.2% during the third quarter. Cidel Asset Management Inc. now owns 508,370 shares of the bank’s stock worth $40,632,000 after buying an additional 55,138 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 34.8% during the third quarter. Fisher Asset Management LLC now owns 1,686,816 shares of the bank’s stock worth $134,760,000 after buying an additional 435,799 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.1%

Shares of NYSE:CM opened at $109.60 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $99.95 and a two-hundred day moving average of $92.71. The stock has a market cap of $100.64 billion, a P/E ratio of 15.98, a PEG ratio of 1.13 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 52-week low of $60.32 and a 52-week high of $110.65.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. On average, research analysts expect that Canadian Imperial Bank of Commerce will post 7.51 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.77%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CM shares. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, April 17th. Finally, Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.